Morningstar raises fair value estimate on Australia's Ingenia Communities
** Analysts at Morningstar raise fair value estimate for Australian property developer Ingenia Communities INA.AX by 15% to A$5.30 from A$4.60
** Raises estimate after taking a fresh look at our cost of equity assumptions for our Australian land lease coverage — brokerage
** "We estimate an operating income compound annual growth rate of 11% over the decade to fiscal 2034," Morningstar
** Brokerage also lifts margin assumptions for the rental business, now 58% at the midcycle from 55% previously
** Six of nine analysts rate the stock "buy" or higher, two "hold" and one "sell" or lower – data compiled by LSEG
** Stock has risen 12.8% YTD, as of last close
Reporting by Roshan Thomas in Bengaluru
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